Executive Bankcard Goes ITS RPM

Executive Healthcare Services, a division of Executive Bankcard, Monday announced it will expand its current credit card transaction processing services for health care customers to include online, real-time insurance eligibility verification through Imperial Technology Solutions’ (ITS’) Receivables Payment Manager (RPM).

With RPM, health care providers can instantly verify a patient’s insurance eligibility and payment responsibilities, then collect co-payments at the point of care with a credit or ATM/debit card. RPM has proven to improve workflow associated with patient payment, collection, posting, reconciliation, billing and outstanding patient accounts receivable, while speeding income to the provider.

RPM turns every point of care into a patient payment verification and collection station.

“Knowing a patient’s payment responsibility at the time of care is a big challenge in health care. RPM differentiates Executive Healthcare’s services by offering real tools to improve provider collections,” said Barry Tikotin, sales and training manager with Executive Healthcare Services.

“Currently, health care administrators spend too much of their time verifying patients’ eligibility and benefits after the patient has already left. With RPM, Executive Healthcare Services can offer its health care customers a tool to determine coverage and patient payment responsibility, in most cases in less than a minute,” said Raymond Pedden, senior vice president of ITS.

Based in Calabasas, Executive Healthcare Services, a division of Executive Bankcard Services, provides cutting-edge products and services for all aspects of merchant non-cash transaction processing. Executive’s coast-to-coast network of service professionals serves all types of e-commerce, including auto-deductions from checking accounts and recurring billing with credit cards.

Executive Healthcare Services can be reached at 888/904-2244 or by email at execbankcard@earthlink.net.

With a team of health care, technology and marketing specialists, ITS has developed an exclusive line of financial transaction software, the Receivables Payment Manager, that is operational today in single doctor practices to large provider organizations throughout the United States. For more information, contact Imperial Technology Solutions at 800/716-9777, or visit ITS’ World Wide Web site at [www.itsrpm.com][1].

ITS is a division of Imperial Bank, one of the leading independent business banks in the West. With more than $6 billion in assets, Imperial offers a wide range of financial services tailored to corporate customers, entrepreneurs and professionals. Based in Los Angeles, Imperial Bank is the principal subsidiary of Imperial Bancorp (NYSE:IMP) and can be found on the Web at [www.imperialbank.com][2].

[1]: http://www.itsrpm.com/
[2]: http://www.imperialbank.com/

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VisionPLUS Record

PaySys International said Monday that Household International has exceeded 40 million credit card accounts being processed on ‘VisionPLUS’ software. The recent conversion of 11 million additional accounts to ‘VisionPLUS’ brought Household International’s cumulative account total to in excess of 40 million. ‘VisionPLUS’ is the standard-setting card management system that integrates retail, bankcard, and consumer loan billing and administration. The product consists of eight standard rules- and workflow-based software modules that enhance the marketability and profit potential of the entire credit card operation.

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Outside Walk-Up ATM

First Union installed the world’s first freestanding exterior walk-up cash dispenser yesterday in the new Universal Studios ‘Islands of Adventure’ theme park in Orlando. The ‘1075ix’ exterior walk-up cash dispenser was introduced in December. It is designed for outside deployment in a location where 24-hour operation and a small footprint is desirable, and medium-to-high transaction volumes are expected. The model includes four dispense cassettes, Diebold ix software and a full range of ix Series printers and displays that provide the options of coupon printing and dispensing, screen advertising, ticket/stamp/phone card dispensing and other revenue-generating features and applications. First Union says the Florida’s tough weather conditions will give the new machine a real workout.

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BP Phone Card Sweepstakes

What would it take to fuel your car for a lifetime? Take care of countless trips to the office, school, grocery store and playground? Run around town and zip down the highway? For the winners of the BP Free Gas for Life sweepstakes, this “free gas” dream will soon come true.

During August and September 1999, consumers can stop by any participating BP station, fill up with at least eight gallons of gasoline, and receive a free 7 minute phone card and a chance to win one of two BP Free Gas for Life awards. Other prizes include a $10,000 VISA shopping spree, or thousands of $5 gas gift certificates.

Last year’s winner of Free Gas for Life from BP was William Bressee of Oxford, New York, who is now enjoying his free-gas lifestyle motoring around with his pickup truck and motorcycle.

Consumers will find the scratch-off phone card game pieces at participating BP stations in Connecticut, Delaware, Massachusetts, New York, Oregon, Pennsylvania and Washington.

Tosco Marketing Company is the Phoenix-based retail division of the Tosco Corporation (NYSE: TOS), and is responsible for the marketing of a family of well-known convenience store and gasoline brands including BP in the Northeast and Northwest, 76 and Circle K.

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J D Power Winners

J.D. Power released its ‘1999 Comprehensive Credit Cardholder Study’ this morning showing three winners in the cardholder loyalty categories. MBNA ranked highest in cardholder loyalty among VISA/MasterCard Platinum cardholders. Citibank’s ‘AAdvantage’ program scored the highest among rewards credit cardholders and the American Express Optima Card took top place among Gold/Classic cardholders. The J.D. Power study also found that consumers are beginning to use their ‘Platinum’ cards as a debt instrument and that 3% of credit cardholders use the Internet to access their account information. More study results are available from CardFlash Online ([www.cardflash.com][1]).

Cardholder Loyalty Among Reward Cards (Index Scores)

Citibank AAdvantage 108
Mileage Plus First Card 106
AmEx Delta SkyMiles 103
Household GM Card 103
Chase Shell 103
Industry Average 101

Source: J.D. Power and Associates

[1]: http://cardflash.com/

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Platinumized

Bank of America took its ‘America West FlightFund VISA’ to the platinum level yesterday. Under the ‘Platinum’ program, cardholders will now earn two miles for every dollar spent on America West ticket purchases and one mile per dollar on all other purchases. In addition cardholders will now receive 5,000 ‘FlightFund’ bonus miles upon opening an account, 1,000 bonus miles each year upon renewal, and two America West ‘Club Passes’. Bank of America introduced the America West ‘FlightFund VISA Classic’ card more than 10 years ago. The program does not carry a mileage cap for earnings. The ‘America West FlightFund Platinum VISA’ carries a $75 annual fee. The interest rate is Prime +6.99%, adjusted quarterly.

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Credit Store Buys FDIC Portfolio

The Credit Store, Inc. said Monday that it has purchased a $10.4 million portfolio (principal amount) of performing credit card receivables from the Federal Deposit Insurance Corporation (FDIC). The portfolio was purchased at a substantial discount to par through the FDIC’s competitive bidding process, The Credit Store said.

Martin Burke III, chairman and chief executive officer of The Credit Store, commented, “This purchase is an excellent way to increase The Credit Store’s profitable base of performing credit card receivables. While The Credit Store generally does not purchase receivables that are already performing, we believe that we will add significant value over our purchase price in a short period of time.”

The Credit Store, Inc. is a nationwide financial services company engaged in the acquisition and recovery of non-performing consumer receivables and the origination and servicing of credit cards. The Company acquires portfolios of non-performing consumer receivables and originates new credit cards to those consumers who agree to pay all or a portion of the outstanding amount due on their debt. The new card is issued with an initial balance and credit line equal to the agreed repayment amount. After appropriate seasoning, The Credit Store attempts to sell or securitize the credit card receivables generated by its business strategy.

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Jury Award

EchoStar Communications Corp. won a Federal Court jury award in Colorado last Friday against Household Retail Services. HRSI was found to have breached its contract with Echo Acceptance Corporation, resulting in a judgment against HRSI of more than $5 million. According to court documents, from 1989 to 1995, HRSI purchased private label credit card accounts from EAC and agreed to pay EAC a percentage of the finance and insurance charges billed on the accounts until the accounts are liquidated. EAC says on Dec. 31, 1994, HRSI unilaterally terminated the agreement and wrongfully discontinued making payments on loans it previously purchased. EAC immediately filed suit in U.S. District Court in Colorado. Four and one-half years later the court found that HRSI breached its contract with EAC.

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HealthCore Sells Card

HealthCore Medical Solutions, Inc. announced that it has sold certain assets related to its discount healthcare business to Randolph & Associates, Inc., based in Dallas, subject to the assumption of certain liabilities including membership contracts, network access agreements, broker contracts, computer hardware lease and obligations under certain other assigned contracts, including all refunds, if any, to members requested after Aug. 1, 1999.

Upon the sale of the assets, HealthCore has discontinued the operation of its healthcare discount business.

On July 1, HealthCore had announced the execution of a definitive merger agreement with Adatom, Inc., a California-based Internet superstore and e-commerce company ([www.adatom.com][1]). Adatom is developing and implementing a business model that, in addition to its superstore, includes backend fulfillment for other e-commerce sites. Under the terms of the merger, Adatom stockholders will receive common stock of HMSI representing approximately 77.5% of the company subject to adjustment in certain circumstances, including a failure to meet cash assets (as defined in the merger agreement) of at least $2,850,000. The sale of the assets and the related discontinuance of the healthcare discount business are conditions to closing of the merger with Adatom, Inc. The Adatom merger is expected to close at the end of the third quarter of 1999.

The HealthCore Board of Directors has deemed the sale to be in the best interests of the corporation as it will satisfy a condition to closing of the merger with Adatom and will preserve cash assets of the corporation thereby reducing the likelihood of an adjustment, which would result in an increase in the number of shares issued to Adatom shareholders.

Since 1997 HealthCore developed and marketed discount cards entitling members to discounts on major medical, ancillary healthcare services and retail consumer purchases.

Randolph & Associates has been in the insurance business for 10 years.

Statements in this news release that are not descriptions of historical facts are forward-looking statements that are subject to risks and uncertainties. Word such as “expect,” “intends,” “believes,” “anticipates,” and “likely” also identify forward-looking statements. Actual results may differ materially from those currently anticipated due to a number of factors, including, but not limited to, risks set forth under “risk factors” in periodic reports filed by the company with the Securities and Exchange Commission.

[1]: http://www.adatom.com/

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GartnerE

Gartner Group, Inc. Friday announced a new product line for business and information technology executives who are transforming their businesses through E-business initiatives. GartnerE delivers 33 research, advisory and market intelligence services across six areas that deliver key knowledge and strategies to IT and business executives. GartnerE is designed to help plan E-business transformation across the full spectrum of an enterprise’s business.

“If enterprises focus only on the ‘E’ in E-business, they will fail,” said William T. Clifford, president and CEO of GartnerGroup. “Only GartnerGroup currently focuses on the full spectrum of issues driving E-business — from the ‘a’ of application integration to the ‘z’ of zero latency, and including everything in between.”

The first product offerings under the GartnerE banner are available today. For more information, visit [www.gartner.com][1] or call a GartnerGroup sales representative at 941-561-4202.

GartnerE Management

This full-service research and advisory offering covers E-commerce, supply chain management, customer relationship management and outsourcing. This program enables enterprises to integrate their E-business functions and processes across organizational boundaries and collaborate with customers, suppliers and partners.

GartnerE Technology

GartnerE Technology provides research and advisory services for areas such as portals, Web operations, Java, interactive media, security, Internet service providers (ISPs) and ubiquitous computing. The service examines emerging Internet technologies, defines best practices for Internet operation, and reviews strategies for implementing Internet solutions.

GartnerE also offers a full range of market intelligence and survey data from GartnerGroup’s Dataquest across the following four areas:

GartnerE Markets

Infrastructure Worldwide, Infra-access, Remote Access Worldwide, Software, Integration, ISP, E-commerce Worldwide, and E-commerce Services Worldwide.

GartnerE Customer

Internet Adoption/Interactive Home, Technology and Infrastructure U.S., Telecom & Online Services U.S., Media and Entertainment U. S., Financial Services U.S., Technology & Infrastructure for France, Germany and U.K, and Tracking for France, Germany and U.K.

GartnerE Supplier

Access Service Worldwide, Software Worldwide, Packet Voice Worldwide, and Data Services North America.

GartnerE Verticals

Media, Automotive for France, Germany and U.K., Financial U.K., and Travel for France, Germany and U.K.

GartnerGroup assists clients with the “A to Z” of E-business, including customer relationship management, supply chain management, total cost of ownership, infrastructure, security, technology selection and hundreds of other strategic areas.

About GartnerGroup

As the world’s leading authority on IT, GartnerGroup provides clients with a wide range of products and services in the areas of IT advisory services, measurement, research, decision support, analysis and consulting. Founded in 1979, with headquarters in Stamford, Conn., GartnerGroup is at the center of a global community serving Fortune 1000 companies from 80 locations worldwide. GartnerGroup’s unique capabilities and resources help bring clarity to the direction of the world’s hottest and most volatile industry. Additional information about the company is available on the World Wide Web at [www.gartner.com][2].

[1]: http://www.gartner.com/
[2]: http://www.gartner.com/

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